PayPal Names Sri Shivananda Chief Technology Officer

SAN JOSE, Calif.--(BUSINESS WIRE)--
Global technology platform and payments leader PayPal Holdings, Inc.
(Nasdaq:PYPL) today announced the appointment of Sri Shivananda as the
company's new Senior Vice President and Chief Technology Officer,
effective April 1, 2016.

Shivananda's appointment follows the decision by current CTO, James
Barrese, to step down to take time off. James will remain with PayPal
for a period of time to support a smooth transition period.

With James' departure, PayPal will realign responsibilities within the
company. As CTO, Sri will oversee the company's platform and
infrastructure with a focus on availability, scalability, performance
and information security. The company's Payments and Identity teams will
move under the Product and Engineering organization, enabling a stronger
end-to-end view of PayPal's customer experience as the company launches
new capabilities.

"I am very pleased to welcome Sri to our leadership team as our next
CTO," said Dan Schulman, President and CEO of PayPal. "Sri has
demonstrated outstanding leadership qualities and has been responsible
for effectively running our critically important online payments systems
around the world. He has the right skillset to allow us to remain at the
forefront of innovation in the payments industry."

"I am excited to take on this role and look forward to partnering with
Dan and the leadership team to continue growing and improving our
technology platform," Shivananda said. "Our technology enables us to be
a Customer Champion as the partner of choice to merchants and by
empowering consumers globally - and I am committed to bringing our
vision fully to life."

During his nearly 15-year tenure at the company, Shivananda led eBay's
Global Platform and Infrastructure (GPI) team that powered both the eBay
Inc. and PayPal businesses. After successfully guiding his team through
separation, Sri joined PayPal as VP of GPI reporting to Barrese. In this
role, Sri was responsible for all core technologies covering PayPal's
data centers, internal private cloud, online and offline data
infrastructure, internal developer frameworks and tools, and various
platform services.

Schulman added, "James has made invaluable contributions to our
organization including overseeing a transformation of PayPal's
technology platform, which strengthened our competitive advantages and
helped pave the path for PayPal's growth and success. As a result of his
leadership, we have significantly improved our security and performance
- all foundational to being a true global Customer Champion. We are
grateful to James for the team he has built and his long-standing
commitment to PayPal. We wish James all the best with his well-deserved
time off."

"It has been an honor to work with the incredible talent across PayPal,
and I am happy to see Sri take on greater responsibilities that are
perfectly aligned with his strengths as a leader," Barrese said. "We
have an extremely deep bench of expertise on our technology team, and
I'm confident Sri is well prepared and positioned to ensure PayPal's
technology platform remains at the leading edge as PayPal continues to
define the future of digital payments."

About PayPal

At PayPal (Nasdaq:PYPL), we put people at the center of everything we
do. Founded in 1998, we continue to be at the forefront of the digital
payments revolution. In 2015, 28% of the 4.9 billion payments we
processed were made on a mobile device. PayPal gives people better ways
to connect to their money and to each other, helping them safely access
and move their money and offering a choice of how they would like to pay
or be paid. With our 179 million active customer accounts, we have
created an open and secure payments ecosystem that people and businesses
choose to securely transact with each other online, in stores and on
mobile devices. PayPal is a truly global payments platform that is
available to people in more than 200 markets, allowing customers to get
paid in more than 100 currencies, withdraw funds to their bank accounts
in 57 currencies and hold balances in their PayPal accounts in 26
currencies. For more information on PayPal, visit https://about.paypal-corp.com.
For PYPL financial information, visit https://investor.paypal-corp.com.